Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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More good news from the Upfront CEO today
https://www.linkedin.com/posts/gonzaloladreda_timeislife-activity-7183373180240019457-NJE-?utm_source=share&utm_medium=member_desktop
Don’t know what happened there! Just look at the recommendation letter on page 20, which has come from one of the largest medical device manufacturers in the world.
I lied! Last one, promise!
On page 20 of the presentation Upfront show a letter of recommendation from Medtronic, which says “The current stroke penetration rate of of
Final one from me, but I came across this pitch update because a company called Odelle posted this on LinkedIn (which Yates liked)
https://www.linkedin.com/posts/odelle-technology_excellence-diagnostics-activity-7183021230294192129-2eH9?utm_source=share&utm_medium=member_desktop
So it’s interesting to see what Odelle do, and the companies they’ve worked with
https://odelletechnology.com/about-us/
Overall it’s really obvious that Upfront have a very well planned and professional roadmap to market, involving professional and experienced consultants and with support of regulatory health powers that be. Great customer for us.
Also worth noting again that one of the benefits of IDAP is the potential for “Exceptional Use Authorisation” from the MRHA, which could come sooner than anyone expects.
https://www.gov.uk/government/publications/the-innovative-devices-access-pathway-idap/the-innovative-devices-access-pathway-idap-pilot-phase
Hi Apre
Everything you note is certainly relatable, but it’s the numbers in this latest update to their pitch that excite me, forecasts though they are.
And yes, whilst the trials are important and will take a little more time, it doesn’t appear to delay UKCA or CE applications which, according to this and prior versions of the pitch (see earlier in the thread) will be done this quarter. And then of course there’s IDAP, so at least in respect of UKCA I think we can expect a fast track approach to approval, fully supported by all the heavyweight national health bodies.
But like you, I’m no accountant and would love it if someone could shed more insight on the forecasts as they might relate to us.
Hi Muck, more terrific research there, thank you.
I am no accountant, so looking through the monster figures they are showing leaves me a little dazed (page 22). I have to focus on other layman's points like the improved diagnosis times and improved outcomes (pages 10 to 14), the comparison to competitors (page 18), the reference to the US 'go-to' market, especially the intended application for breakthrough device designation this year (page 20) which I find easier to relate to. All very impressive.
Again, as a non-accountant, I see the potential returns being suggested and think that a paltry £3m investment seems like small potatoes. Am I reading this wrong? There must be plenty of HNW individuals or venture capitalists, let alone institutions who could rustle up that kind of money . . . given the potential . . . no?
I did note from the road map (page 24) that UK clinical trials will not be complete until late 2024ish and US clinical trial in 2025, so a little more time required to dot the t's and cross the i's. But they are pitching for UK commercialisation around end 2024/start 2025 . . . which would be huge. Got to be a few tasty RNS's between now and then, surely. Presumably including a successful fund raise.
So, it would appear that Upfront have again updated their pitch deck.
I would encourage anyone here to read it, because this is the first time they have put forward financial projections - see page 22 of the report. I'd really appreciate comment anyone might have.
Apart from the size of the numbers, the one thing that stood out for me is that they are quoting "net revenue" figures, which they say are quoted after 30-40% distributor fees. No guarantees of course, but I would imagine we would be one of those distributors, as well as a manufacturer. Give the size of the numbers, those fees could be very significant indeed and, as Yates has said, recur year on year.
Upfront are very clearly on a funding drive at the moment to raise £3m., having been pitching all over the place. It will be interesting to see if they get it away, although I have little doubt they will.
https://media.licdn.com/dms/document/media/D4E1FAQGlCe3DkrR-fA/feedshare-document-pdf-analyzed/0/1712565286749?e=1713398400&v=beta&t=aihEAC-lBZsZNPQoOSlPvZgOm_-z5Pc44_JfLj2ALKs
Just one of the horses we will soon have running, and certainly one of my favourites.
Further on this, but a week or so ago Upfront presented at the Cambridge Enterprise Venture Partners Investor showcase, and this would seem to be their full pitch presentation (which is far more detailed than anything I’ve seen before).
It makes for interesting reading!
https://www.enterprise.cam.ac.uk/wp-content/uploads/2024/03/240305-Upfront-LVOne-full-deck-1.pdf
In case anyone missed it by the way, at about 2.43 in the pitch link I gave earlier in this thread, LVOne talk about how their test might be priced, saying “LVOne could be sold at a maximum of £620 and still be cost effective to the U.K. Healthcare system NHS.”
Now whether or not that’s anywhere close to final pricing is anyone’s guess, and so would be our % cut as manufacturer, but talking of many hundreds of pounds for a single test gives an idea of revenue potential here. Remember, the real value of LVOne is in the massive long term cost saving resulting from earlier, even 90 minute earlier, diagnosis, and that may well be worth the NHS shelling out that kind of money. And not to forget, NHS leaders were on the panel that chose Upfront as winners.
As always, great posts Muck.
There are ABDX fingers is many many pies now.
We can all imagine the SP reaction to news of FDA approvals and/or a large NHS contract to supply tests (maybe in the millions) of something manufactured by ABDX.
These are more than wild dreams, they are very likely to land in the near future... lots and lots to look forward to here.
Oh, and seeking Breakthrough Designation from the FDA.....!
Worth noting that this pitch was to "a unique audience of NHS leaders and investors".
Nice to see them win, (because any NHS involvement and/or subsequent investment can only be good for us) and for them to confirm that they are hoping to get UKCA this quarter.
Some more positives from Upfront today
https://www.linkedin.com/posts/gonzaloladreda_timeislife-lvone-ugcPost-7173735155528794115-OaWd?utm_source=share&utm_medium=member_desktop
You can watch their pitch here
https://www.youtube.com/watch?v=SXc3f5yUbts&list=PL9ArOtRubZFgIKycwdRfBerz4s04i5Zne&index=26